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Australia’s upcoming crypto regulations framework has drawn a wide support from the industry emphasising the need to reduce uncertainty and promote economic growth

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10:00pm, Friday, February 28, 2025

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Caroline Bowler, the CEO of local crypto exchange BTC Markets, said in a statement shared with Cointelegraph that the areas of reform are sensible and would keep Australia competitive with global peers. However, she thinks there “will be additional detail required on capital adequacy and custody requirements.” “We need to ensure that these requirements aren’t overly burdensome for business investment in Australia,” Bowler said. Kraken Australia’s managing director, Jonathon Miller, said there is an “urgent need for bespoke crypto legislation” to address the existing confusion and uncertainty in the country’s industry. “We believe that by establishing a clear crypto regulatory framework and mitigating problems like debanking, government can remove the barriers hampering growth in the Australian economy,” he said.

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Crypto news

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